MyBanch gears up open new shared-office spaces in Dimapur and Shillong and plans to offer virtual office set-up.
“With remote work culture becoming the new normal, the co-working industry has been flourishing like never before. Be it from the employers’ end, or the employees’, shared-offices are becoming primary preference for most sectors,” My Brach said in a statement.
“Alike most parts of the country, the trend is also witnessed in India’s northeastern states. Data suggests the North-east is experiencing an increased demand for co-working spaces; it is even expected to grow up to 10% every year for the next five years,” it said.
Citing this surge, MyBranch, the co-working space provider, is also expanding to this nature’s paradise.
“After successfully opening and running a shared office space in Guwahati, MyBanch is all prepped up to open new centers in Dimapur and Shillong,” the company said.
The concept of virtual offices is catching pace as wildfire.
It enables people to have a business address at an established office space for GST registration, receiving/sending mails and postal communication — all this at just a nominal monthly subscription fee.
The concept is popularizing with each passing day because along with being convenient, it is also economical.
Through a virtual office, the client can start operating in the state, without having a physical presence.
MyBranch is already present in 19 states and provides clients to start businesses across India, it said.
“Who wouldn’t like the reduction in cost translating into increased revenues?”, said Kushal Bhargava, the co-founder of MyBranch.
“Taking up a virtual office, especially for those in the initial phase of their business, is extremely advantageous. Along with being a viable workspace solution, it is also very feasible in terms of practicality.”
“The entire process is managed online; those taking up the virtual office spaces can have a prime office address with an array of additional services, that too from the comfort of their abodes,” he added.
According to a market survey, major demand for shared-spaces and virtual office set-ups in the Northeast is generated from Industries like e-commerce, BFSI (Banking, financial services and insurance) and logistics.
Talking about the reason behind, Bhargava said, “One of the major causes of this swelled up demand is reverse migration. Those working-from-homes have moved back to their native places, requiring an office-like set-up and robust internet.”
“This is the reason why our Guwahati centre has been running close to 100% capacity throughout the lockdown. We are gathering demand for other cities too and see a high likeliness of opening centres in other cities including Imphal and Itanagar,” Bhargava said.
With the addition of these cities, MyBranch boasts a total of 41 co-working centres in 38 cities across India.
The company offers ‘on-lease’ office spaces and end-to-end solutions for setting up a professional environment to run businesses in tier II, III and IV cities.